Higher Nightly Rate Makes the Heart Grow Fonder

We all want to obtain the highest return from our holiday rental property, but how do we do it? Generally when starting out and thinking about the rate to charge, the school of thought is to start low in the early days of your property’s exposure and then build. However, if you want to earn as much as possible as soon as possible out of your property, you can add those extra luxuries and high end appliances that people want and are willing to pay for at the very beginning. This will justify a higher nightly rate for your property.

Most people love their coffee and sometimes it’s a drag to go out for a coffee especially when you just want to sit back and take in the view. A Nespresso machine with Milk Frother can solve all that for the guest who wants to relax. Make sure you provide enough pods for 2 per person per day. If they are tea lovers, a teapot with a variety of loose tea from the local tea shop or specialty tea bags would make these guests very happy as well. Before they arrive, determine if they are coffee or tea drinkers and also enquire about the type of milk they like.

Another feature of your property that can attract a higher rate is its style and presentation. Have a stylist appraise the property and suggest some adjustments. These could include the addition of a feature wall, scatter cushions or throw rug in a particular colour, a new print for the wall or high quality linen and towels. Be sure to enlist the services of a professional photographer who can then show off those special touches that make your property stand out from the rest.

If you need to replace the TV, install a smart TV and ensure you have unlimited internet access to go with that. Guests love to watch their favourite programs even when they are on holidays. It may also be a chance for them to stream all the episodes they’ve missed when they were hard at work, not to mention keeping up to date with all their social media contacts.

Another special touch is a welcome basket of goodies. You don’t need to go over the top if you liaise with your local supermarket to purchase products at a small cost when they are close to their use by date. You may end up spending $5, but this could be the deciding factor in someone booking your property over the one in the next street.

These are only a few suggestions, so start thinking about how you can maximise your earnings and bookings by charging a higher nightly rate. The initial outlay may be high, but with the right promotion of your property and its features, a higher nightly rate will be justifiable and the rest follows!